• bitcoinBitcoin (BTC) $ 62,489.00
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  • cardanoCardano (ADA) $ 0.345174
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  • wrapped-stethWrapped stETH (WSTETH) $ 2,899.61
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  • pepePepe (PEPE) $ 0.000010
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  • kaspaKaspa (KAS) $ 0.131978
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.996195
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  • okbOKB (OKB) $ 41.45
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  • ethena-usdeEthena USDe (USDE) $ 0.997766
  • aaveAave (AAVE) $ 153.53
  • whitebitWhiteBIT Coin (WBT) $ 15.25
  • optimismOptimism (OP) $ 1.69
  • render-tokenRender (RENDER) $ 5.35
  • filecoinFilecoin (FIL) $ 3.54
  • crypto-com-chainCronos (CRO) $ 0.075504
  • mantleMantle (MNT) $ 0.602305
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  • fantomFantom (FTM) $ 0.662058
  • vechainVeChain (VET) $ 0.022139
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  • cosmosCosmos Hub (ATOM) $ 4.31
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  • the-graphThe Graph (GRT) $ 0.163708
  • bitget-tokenBitget Token (BGB) $ 1.09
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,456.59
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  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,749.43
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  • mantle-staked-etherMantle Staked Ether (METH) $ 2,553.54
  • pyth-networkPyth Network (PYTH) $ 0.323571
  • gatechain-tokenGate (GT) $ 9.11
  • makerMaker (MKR) $ 1,323.04
  • worldcoin-wldWorldcoin (WLD) $ 2.11
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 62,475.00
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  • jasmycoinJasmyCoin (JASMY) $ 0.018730
  • bitcoin-svBitcoin SV (BSV) $ 44.90
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  • galaGALA (GALA) $ 0.021533
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  • flowFlow (FLOW) $ 0.536654
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,449.50
  • wormholeWormhole (W) $ 0.302833
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  • notcoinNotcoin (NOT) $ 0.007810
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,502.74
  • beam-2Beam (BEAM) $ 0.015024
  • msolMarinade Staked SOL (MSOL) $ 180.73
  • conflux-tokenConflux (CFX) $ 0.166427
  • mog-coinMog Coin (MOG) $ 0.000002
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  • ordinalsORDI (ORDI) $ 34.88
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  • neoNEO (NEO) $ 10.28
  • eosEOS (EOS) $ 0.468564
  • axie-infinityAxie Infinity (AXS) $ 4.63
  • mina-protocolMina Protocol (MINA) $ 0.593721
  • tezosTezos (XTZ) $ 0.684914
  • tokenize-xchangeTokenize Xchange (TKX) $ 8.55
  • chilizChiliz (CHZ) $ 0.074635
  • paypal-usdPayPal USD (PYUSD) $ 0.999920
  • nervos-networkNervos Network (CKB) $ 0.014880
  • ecasheCash (XEC) $ 0.000034
  • tether-goldTether Gold (XAUT) $ 2,651.33
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  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 62,451.00
  • the-sandboxThe Sandbox (SAND) $ 0.259962
  • turboTurbo (TURBO) $ 0.008923
  • akash-networkAkash Network (AKT) $ 2.44
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,515.97
  • dydx-chaindYdX (DYDX) $ 0.922122
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  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000028
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  • roninRonin (RON) $ 1.58
  • superfarmSuperVerse (SUPER) $ 1.23
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  • decentralandDecentraland (MANA) $ 0.293156
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.005404
  • book-of-memeBOOK OF MEME (BOME) $ 0.007787
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 62,464.00
  • zcashZcash (ZEC) $ 35.32
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,451.40
  • pax-goldPAX Gold (PAXG) $ 2,658.12
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  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 153.97
  • beldexBeldex (BDX) $ 0.075836
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.81
  • aioz-networkAIOZ Network (AIOZ) $ 0.442691
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,652.75
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000087
  • arkhamArkham (ARKM) $ 1.77
  • true-usdTrueUSD (TUSD) $ 0.996174
  • blurBlur (BLUR) $ 0.254654
  • dexeDeXe (DEXE) $ 8.54
  • apecoinApeCoin (APE) $ 0.722290
  • raydiumRaydium (RAY) $ 1.82
  • zksyncZKsync (ZK) $ 0.129347
  • safeSafe (SAFE) $ 0.968578
  • oasis-networkOasis (ROSE) $ 0.070126
  • havvenSynthetix Network (SNX) $ 1.44
  • gigachad-2Gigachad (GIGA) $ 0.048948
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.11
  • baby-doge-coinBaby Doge Coin (BABYDOGE) $ 0.00000000
  • gnosisGnosis (GNO) $ 174.39
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999096
  • layerzeroLayerZero (ZRO) $ 3.93
  • astarAstar (ASTR) $ 0.059034
  • iotaIOTA (IOTA) $ 0.124811
  • celoCelo (CELO) $ 0.777494
  • xdce-crowd-saleXDC Network (XDC) $ 0.028237
  • livepeerLivepeer (LPT) $ 11.94
  • frax-etherFrax Ether (FRXETH) $ 2,449.51
  • metaplexMetaplex (MPLX) $ 0.422937
  • dydxdYdX (ETHDYDX) $ 0.922412
  • apenftAPENFT (NFT) $ 0.00000042
  • theta-fuelTheta Fuel (TFUEL) $ 0.060468
  • usdbUSDB (USDB) $ 1.00
  • l2-standard-bridged-weth-blastL2 Standard Bridged WETH (Blast) (WETH) $ 2,459.14
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  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.077186
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 62,530.00
  • compound-governance-tokenCompound (COMP) $ 44.22
  • echelon-primeEchelon Prime (PRIME) $ 7.99
  • bitcoin-goldBitcoin Gold (BTG) $ 21.76
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  • iotexIoTeX (IOTX) $ 0.039891
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  • stepnGMT (GMT) $ 0.127720
  • kavaKava (KAVA) $ 0.339679
  • ethereum-pow-iouEthereumPoW (ETHW) $ 3.41
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  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,452.97
  • bitcoin-avalanche-bridged-btc-bBitcoin Avalanche Bridged (BTC.b) (BTC.B) $ 62,535.00
  • dymensionDymension (DYM) $ 1.70
  • safepalSafePal (SFP) $ 0.704577
  • harrypotterobamasonic10inHarryPotterObamaSonic10Inu (ETH) (BITCOIN) $ 0.336745
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006464
  • wemix-tokenWEMIX (WEMIX) $ 0.800386

Bitcoin Price Flashes Downside Break: Will Bears Take Over?

0 13

Bitcoin price failed to clear the $60,650 resistance. BTC is now correcting gains and might decline toward the $57,500 support zone.

  • Bitcoin is correcting gains and trading well below the $60,000 level.
  • The price is trading below $58,800 and the 100 hourly Simple moving average.
  • There was a break below a key bullish trend line with support at $60,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could climb again if it stays above the $57,500 support zone.

Bitcoin Price Starts Downside Correction

Bitcoin price started a decent increase after it broke the $58,500 resistance zone. BTC was able to climb above the $59,500 resistance. The pair even cleared the $60,000 resistance zone.

However, the bears seem to be active near the $60,650 resistance zone. A high was formed at $60,638 and the price is now correcting gains. There was a drop below the $59,500 level. The price even dipped below the 23.6% Fib retracement level of the upward move from the $55,548 swing low to the $60,638 high.

There was also a break below a key bullish trend line with support at $60,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $58,800 and the 100 hourly Simple moving average.

Bitcoin Price Flashes Downside Break: Will Bears Take Over?

On the upside, the price could face resistance near the $59,200 level. The first key resistance is near the $60,000 level. A clear move above the $60,000 resistance might start a steady increase in the coming sessions. The next key resistance could be $60,650. A close above the $60,650 resistance might spark more upsides. In the stated case, the price could rise and test the $62,000 resistance.

More Downsides In BTC?

If Bitcoin fails to rise above the $59,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $58,000 level or the 50% Fib retracement level of the upward move from the $55,548 swing low to the $60,638 high.

The first major support is $57,500. The next support is now near the $56,750 zone. Any more losses might send the price toward the $55,550 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $58,000, followed by $57,500.

Major Resistance Levels – $59,200, and $60,000.

Source

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